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Homeowners’ Renovation Spending Doubled Since 2001

Appraisal Buzz

The post Homeowners’ Renovation Spending Doubled Since 2001 appeared first on DSNews. The post Homeowners’ Renovation Spending Doubled Since 2001 appeared first on Appraisal Buzz. The remodeling industry has responded with shifts in scale and specialization, according to a study by Harvard’s JCHS.

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Household Incomes Hit Hard by High Housing Costs

Appraisal Buzz

Median rent increased a whopping 21% between 2001 and 2022, while median renter household income increased just 2%. Rapid Rent Growth Rents have grown rapidly across all income groups since 2001: The largest increase was for households earning $75,000 or more, where median rent increased by 27%, to $1,800 in 2022.

Investing 377
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Keller Williams named to yet another profit-sharing lawsuit

Housing Wire

Jana Caudill was a sales associate with Keller Williams from February 1, 2001 to December 14, 2011, and Dennis Caudill was a sales associate with Keller Williams from February 1, 2001, to December 14, 2011. District Court for the Northern District of Indiana.

Brokerage 450
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Pending home sales were flat in April, but the South is a bright spot

Housing Wire

An index of 100 is equal to the level of contract activity in 2001. The South’s pending home sales activity is similar to that of 2001, but the Midwest’s activity has decreased by 22% in that same period, and the Northeast and West regions are both about 40% lower than they were in 2001.”

Inventory 384
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After pausing in June, Fed hikes rates to highest level since 2001

Inman

Federal Reserve policymakers keep their options open for another rate hike in September, but futures markets investors and some economists think the Fed is probably done hiking rates.

Investors 117
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Pending home sales pick up in February: NAR

Housing Wire

For comparison, the index is benchmarked at a reading of 100 based on 2001 contract activity. NAR’s Pending Home Sales Index increased to 75.6 in February, up from 74.3 in January. On a year-over-year basis, pending sales were down 7%.

Inventory 458
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HUD sued over alleged failure to refund mortgage insurance premiums

Housing Wire

In the lawsuit, the plaintiff says that she terminated her FHA loan in 2001 and was not informed at the time that a refund was owed, nor was she aware that she had to submit an application for a refund. Nationwide, that number soars to more than 754,000 borrowers and a total of $384.7 million in unclaimed refunds.

Insurance 479